TRS Illinois confirms latest debt commitment

TRSIL makes $250m commitment to Ares' latest debt fund.

Name: Teachers’ Retirement System of the State of Illinois
Headquarters: Springfield, US
AUM: $64.06 billion
Allocation to private debt: 6.7%

The Teachers’ Retirement System of the State of Illinois has committed $250 million to Ares Multi-Credit Fund, according to a source from the public pension.

Ares Management is a Los Angeles-based asset manager with $352 billion in assets under management. The firm launched its latest multi-credit fund in December 2022, with the strategy of mezzanine debt.

The commitment marks TRSIL’s new relationship with Ares Management. In 2022, the pension fund committed nearly $2.5 billion to private debt strategies with a regional focus on North America.

TRS Illinois allocates 6.7 percent of its assets to private debt, amounting to $4.29 billion in capital.

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